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RE: BTC - Roughly 64% of the supply hasn't moved in over a year

in #bitcoin8 months ago

I personally think such high level of HODLing is bad for Bitcoin in the long term. The only way BTC will get accepted as a day to day currency is if more people start using it for daily transactions else it will remain just a speculative asset.

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There is over $8 trillion in the gold market alone, which doesn't work very well as a means of payment. Plus when you factor in real estate as well as as collectibles and other store of value markets, bitcoin has plenty of runway even if it never works as a widely adopted form of payment. In fact, I would prefer that it doesn't. If it competes directly with fiat (as opposed to gold), governments will try their best to kill it.

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